Medical Office
For Sale
$285,000
1342 Airport Road, Kalispell, MT 59901
CommercialSale, Kalispell, MT
Property Size1,840 SF
Price / SF$154.89
Days on Market13
Property Features for 1342 Airport Road
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Zoning description
6
Subdivision
Syth Business Park Condos
Directions
Hwy 93S (south of Kalispell) go east on Airport Road next to The Montana Club restaurant continue north to Syth Business Condos on the east side of the road.
Standard status
Active
APN
07396618424017014
Taxes and HOA fees
Tax Year
2025
Tax Description
Syth Business Park Condo on TR 8D, S16, T28 N, R2W, Unit 14
Tax Annual Amount
2688
Legal Description
Syth Business Park Condo on TR 8D, S16, T28 N, R2W, Unit 14
Building Details
Year built
2000
Listing Agency:
Glacier Sotheby's International Realty Bigfork
(406) 837-6100
Listed By:
Katherine Conrad · License #RRE-BRO-LIC-108906
(406) 249-4747
Added: Sep 15
Changed: Sep 27
Last Checked: Sep 27 at 7:06AM
MLS# 30078011
Copyright © 2026 Montana Regional MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This medical office condominium dates to 2000 and consists of two units of approximately 920 square feet each. The units may be combined into a single space of approximately 1,840 square feet. Unit 1342 is currently occupied by a tenant.
The property is visible from Highway 93 and has on-site parking. Showings are by appointment.
The property is visible from Highway 93 and has on-site parking. Showings are by appointment.
Key Highlights
- Two medical office units of approximately 920 square feet each
- Units can be combined into approximately 1,840 square feet
- Unit 1342 currently has a tenant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$23,161
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$463,220
$463.2K
Cap Rate 7%
$330,871
$330.9K
Cap Rate 9%
$257,344
$257.3K
Market Conditions
NOI Build-Up for 1,840 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$40.8K $22.20/SF
− Vacancy
−$2.2K −$1.22/SF
EGI
$38.6K $20.98/SF
− OpEx
−$15.4K −$8.39/SF
NOI
$23.2K $12.59/SF
Area
Flathead County, MT
Vacancy
5.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$463,220
Cap Rate 7%
$330,871
Cap Rate 9%
$257,344
Alternative Uses
Best Use
Healthcare Medical
$330.9K
$289.5K – $386.0K
NOI $23,161 @ 7.0% cap · market cap 8.13%
Second Best
Office B
$311.7K
$272.7K – $363.6K
NOI $21,818 @ 7.0% cap · market cap 7.66%
Theoretical Best
Office A
$410.8K
$359.5K – $479.3K
NOI $28,757 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
817
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 59901, MT
57,900
Population
25,154
Households
2.3
Avg Household Size
40
Median Age
33%
College-Educated
96%
High-School Grad
468.8 sq mi
ZIP Area
124
Density / Sq Mi
$70,391
Median Household Income
$38,073
Median Earnings
$1,052
Median Rent
$417,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in West region
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Similar Off Market Nearby
- Big Sky Animal Clinic — 15 18th St E, Kalispell, MT 59901
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- Flathead Animal Clinic — 344 1st Ave W, Kalispell, MT 59901
Frequently Asked Questions
What type of property is this?
Medical Office Space - Two neighboring units can be combined to create a larger medical office configuration.
Where is this medical office space located?
The property is located at 1342 Airport Road Kalispell, MT.
What is the asking price?
The asking price for this property is $285,000.
What are key features of this property?
This property features: Two medical office units of approximately 920 square feet each; Units can be combined into approximately 1,840 square feet; Unit 1342 currently has a tenant
